Adani Defense Systems & Technologies Ltd. (ADSTL) has signed a definitive agreement to acquire an 85.8% stake in aviation maintenance company Air Works India for an enterprise value of ₹400 crore. The acquisition marks a significant development in the Indian maintenance, repair and overhaul (MRO) sector, bringing together one of the country’s largest private players under the Adani umbrella.

Air Works, a key player in the aviation services sector, operates across 35 cities in India and employs over 1,300 people. The company offers a wide range of services including line maintenance, heavy checks and avionics work for fixed and rotary wing aircraft. It also provides basic maintenance of narrow-body and turboprop aircraft at its facilities in Hosur, Mumbai and Kochi, with certifications from over 20 international civil aviation authorities.

In addition to its commercial aviation services, Air Works has developed expertise in defense MRO, undertaking projects for aircraft used by the Indian Navy and Air Force. The acquisition by Adani Defense is seen as an effort to consolidate and expand its presence in the commercial and defense aviation sectors.

Jeet Adani, Director of Adani Airports, highlighted the growing importance of the aviation sector in India, saying: “The country is on track to become a global aviation hub, with a rapid increase in the size of its fleet and its connectivity. This acquisition allows us to strengthen our position in the MRO sector, which is a critical part of the aviation value chain.

According to Adani Defense, the agreement is part of ongoing efforts to strengthen national capabilities in the defense sector under the government’s Aatmanirbhar Bharat initiative. Ashish Rajvanshi, CEO of Adani Defense & Aerospace, noted that the acquisition would enable Adani to expand its offerings in the aviation sector while meeting the maintenance needs of commercial operators and armed forces.

Air Works has been a leading player in the Indian aviation industry for decades, offering services to domestic and international clients. With this acquisition, Adani Defense aims to integrate Air Works’ expertise into its broader strategy to develop a comprehensive aviation services ecosystem.

About Adani Defense & Aerospace
Adani Defense & Aerospace, a subsidiary of the Adani Group, focuses on developing products and solutions for the Indian defense sector. Its activities include partnerships with start-ups and MSMEs, fostering innovation and contributing to the country’s self-reliance in defense manufacturing.

This acquisition comes at a time when the Indian aviation sector is experiencing significant growth, creating opportunities for expansion in maintenance and repair services to meet the growing fleet size and connectivity demands.